FormFree has divested its AccountChek auto-verification solution to Stewart and will now focus on its two other solutions: Passport, a mobile application that verifies and perpetually updates a consumer’s comprehensive Financial DNA, and Residual Knowledge Income Index (RIKI), pronounced “Ricky,” a tool for evaluating consumer creditworthiness based on cash-flow analysis.
In a release, FormFree says the move will enable it to focus on its mission of democratizing consumer access to credit.
As part of the move, FormFree has promoted Eric Lapin to president to lead its new direction.
Lapin joined FormFree last year as chief strategy officer, having previously held vice president and managing director positions at Old Republic Title, Altisource, Black Knight, First American and Credit Suisse.
Lapin plans to increase company focus on blockchain and other decentralized Web3 technologies.
“FormFree changed the lending industry when we launched its first wave of digital transformation, and we’re ready to change it again by ushering in a new era of consumer empowerment and expanded access to credit for all people,” says Brent Chandler, founder and CEO of FormFree. “As our new president, Eric will play a critical role in guiding FormFree’s next chapter as we double down on creating new avenues for lenders to responsibly serve credit invisibles and other underserved populations.”
Photo: David Rotimi